400 Arkadelphia Rd | Hanceville, AL 35077
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- LoopNet Team
400 Arkadelphia Rd
Hanceville, AL 35077
Mulberry Place Apartments | 95% Occupancy · Multifamily Property For Sale
·
41 Units
INVESTMENT HIGHLIGHTS
- Mulberry Place Apartments is on a 4.35-acre site improved by 12 buildings and 41 units, with a mix of one and two units.
- Stabilized, hands-off investment opportunity as the property is 95% occupied; the apartments generated ~$250K in NOI over the last 12 months.
- 88% of the housing in the 10-mile radius are one- and two-unit properties, aligning with the area’s population.
- Hanceville, Alabama, is approximately 40 miles north of Birmingham, with 46,332 residents in the surrounding 10 miles of the property.
- Less than 5 miles from Wallace State Community College, serving student and faculty housing demand.
PROPERTY FACTS
| Sale Condition | Auction Sale | Lot Size | 4.35 AC |
| Type of Ownership | Fee Simple | Building Size | 29,280 SF |
| No. Units | 41 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Garden | Parking Ratio | 2.86/1,000 SF |
| Building Class | C | Parcel Number | 23-04-20-0-004-021.000 |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.35 AC |
| Building Size | 29,280 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1970 |
| Parking Ratio | 2.86/1,000 SF |
| Parcel Number | 23-04-20-0-004-021.000 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Carpet
- Lawn
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Tenant Controlled HVAC
- Grill
- Maintenance on site
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 28 | - | 697 |
| 1+1 | 13 | - | 648 |
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